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Dual Currency Offer Attracts Kiwi Investors

October 27, 2005

DUAL CURRENCY OFFER ATTRACTS KIWI INVESTORS

A $300 million debt offer by leading finance company MFS Pacific Finance Limited has been overwhelmed by savvy investors looking to invest in the strength of the Australian economy.

Since launching in early August the offer of Secured Debenture Stock and Notes has secured more than $22.5 million of investments, with average inflows of $1.8 million per week.

The offer initially targeted New Zealand residents with Australian dollar savings or cash deposits who wanted to invest in a facility whereby they are diversifying their portfolio into the growth of the Australian economy.

However, MFS Pacific Finance Chief Executive Officer Nigel Lane said the company had received an overwhelming response from investors wanting to convert New Zealand dollars into Australian dollars to take advantage of the investment vehicle.

“The increasing uncertainty surrounding the New Zealand economy is prompting savvy investors to keep their investments offshore and further investigate options for investing funds in the strength of the Australian economy.”

MFS Pacific Finance, which was established in 1999, is New Zealand’s third fastest growing finance company according to KPMG with more than $186 million in issued debt securities and has undertaken this new offer as part of an aggressive growth strategy.

The latest offer is made up of $200 million in Secured Debenture Stock and $100 million in Notes with terms of six months, one, two, three, four or five years.

Deposits will be predominantly invested in loans to various entities involved in the Australian property market through opportunities sourced from MFS Pacific Finance’s parent company MFS Limited (ASX: MFS).

MFS Limited (www.mfsgroup.com.au) was established in 2000 and is listed on the Australian Stock Exchange with a market capitalisation in excess of $AUD450 million and property, funds and assets under management exceeding $AUD3 billion.

MFS Pacific Finance Limited is the issuer of the Secured Debenture Stock and Notes referred to in this release and neither MFS Limited nor any other company, their directors nor any other person guarantees the Secured Debenture Stock or the Notes.

Secured Debenture Stock will be of equal ranking in all respects with all other Secured Debenture Stock issued by MFS Pacific Finance Limited and will be secured by a first charge, subject to prior permitted charges over the assets and undertaking of MFS Pacific Finance Limited. Notes are unsecured.

For a copy of the latest Investment Statement in relation to this offer, you can contact MFS Pacific Investor Relations on 0800 200 468 or your financial adviser, or visit MFS Pacific Finance’s website at www.mfspacific.co.nz.

ENDS

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